ROSEVILLE, CALIF. — A California-based investment firm has purchased The Terraces of Roseville, a 198-unit independent living, assisted living and memory care community in the Sacramento suburb of Roseville, for $39 million.
Blueprint Healthcare Real Estate Advisors represented the seller, a New York-based private investment group, in the sale. Westmont Senior Living will continue to operate the community after the sale.
The Terraces of Roseville was built in 1987 and sits on a 4.1-acre parcel. The community was sold out of bankruptcy as a value-add property.
The proposed repositioning includes capital investment and/or a substantial expansion on the site as well as adjacent 1.3-acre parcel.
The sale price equates to approximately $197,000 per unit and a capitalization rate of 6.8 percent based on in-place operating income.
Blueprint’s Christopher Hyldahl was the lead advisor on the transaction and was supported by Gideon Orion and Mike Segal.